China’s Zhejiang Hengyi to build 8m tonne/year Brunei complex

China’s Zhejiang Hengyi to build 8m tonne/year Brunei complex

10 April 2012 04:40[Source: ICIS news]

SINGAPORE (ICIS)--?xml:namespace>China’s Zhejiang Hengyi Group is planning to build an 8m tonne/year refinery complex at Pulau Muara Besar in Brunei Darussalam at a cost of about $4.29bn (€3.26bn), the chemical-fibre maker said on Tuesday.

Under the first phase of the project, the company plans to build a 1.5m tonne/year “light” naphtha facility, a 1.5m tonne/year paraxylene (PX) unit as well as a 500,000 tonne/year benzene plant, the company said in a statement on the Shenzhen Stock Exchange.

The complex will also produce 1.5m tonnes/year of diesel, 400,000 tonne/year of gasoline and 1m tonne/year of jet A-fuel, the company said.

The statement did not reveal when the company will start building the facilities or when it will come on line.

Zhejiang Hengyi Group last year said that under a first phase, the refinery complex will have the capacity to process 135,000 bbl/day of crude and condensate.

In the second phase the company plans to invest $3.5bn to expand the refinery to produce olefins, according to the statement.